XML 19 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue        
Base rent $ 525,875 $ 513,269 $ 1,561,821 $ 1,537,373
Recoveries from tenants 102,424 94,476 292,801 272,803
Parking and other 26,552 26,092 79,590 78,164
Total rental revenue 654,851 633,837 1,934,212 1,888,340
Hotel revenue 13,664 13,064 37,373 33,859
Development and management services 15,253 10,811 32,963 24,648
Direct reimbursements of payroll and related costs from management services contracts 2,516 0 7,371 0
Total revenue 686,284 657,712 2,011,919 1,946,847
Expenses        
Rental 247,989 237,341 726,108 696,082
Hotel 8,828 8,447 25,642 23,942
General and administrative 29,677 25,792 94,039 84,319
Payroll and related costs from management services contracts 2,516 0 7,371 0
Transaction costs 914 239 1,409 572
Depreciation and amortization 157,996 152,164 480,210 463,288
Total expenses 447,920 423,983 1,334,779 1,268,203
Operating income 238,364 233,729 677,140 678,644
Other income (expense)        
Income (loss) from unconsolidated joint ventures (4,313) 843 (3,083) 7,035
Gains on sales of real estate 7,863 2,891 122,552 6,791
Interest and other income 2,822 1,329 7,049 3,447
Gains from investments in securities 1,075 944 1,454 2,716
Gains from early extinguishments of debt 0 0 0 14,354
Interest expense (95,366) (92,032) (277,790) (282,709)
Net income 150,445 147,704 527,322 430,278
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (14,850) (14,340) (46,484) (33,967)
Noncontrolling interest—common units of Boston Properties Limited Partnership (13,852) (13,402) (49,128) (40,350)
Net income attributable to the Company 121,743 119,962 431,710 355,961
Preferred dividends / distributions (2,625) (2,625) (7,875) (7,875)
Net income attributable to the Company's common shareholders / unitholders $ 119,118 $ 117,337 $ 423,835 $ 348,086
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.77 $ 0.76 $ 2.74 $ 2.26
Weighted average number of common shares / units outstanding 154,440 154,355 154,414 154,132
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.77 $ 0.76 $ 2.74 $ 2.26
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 154,678 154,483 154,652 154,344
Boston Properties Limited Partnership        
Revenue        
Base rent $ 525,875 $ 513,269 $ 1,561,821 $ 1,537,373
Recoveries from tenants 102,424 94,476 292,801 272,803
Parking and other 26,552 26,092 79,590 78,164
Total rental revenue 654,851 633,837 1,934,212 1,888,340
Hotel revenue 13,664 13,064 37,373 33,859
Development and management services 15,253 10,811 32,963 24,648
Direct reimbursements of payroll and related costs from management services contracts 2,516 0 7,371 0
Total revenue 686,284 657,712 2,011,919 1,946,847
Expenses        
Rental 247,989 237,341 726,108 696,082
Hotel 8,828 8,447 25,642 23,942
General and administrative 29,677 25,792 94,039 84,319
Payroll and related costs from management services contracts 2,516 0 7,371 0
Transaction costs 914 239 1,409 572
Depreciation and amortization 156,056 150,210 474,383 457,102
Total expenses 445,980 422,029 1,328,952 1,262,017
Operating income 240,304 235,683 682,967 684,830
Other income (expense)        
Income (loss) from unconsolidated joint ventures (4,313) 843 (3,083) 7,035
Gains on sales of real estate 9,154 2,891 126,831 7,368
Interest and other income 2,822 1,329 7,049 3,447
Gains from investments in securities 1,075 944 1,454 2,716
Gains from early extinguishments of debt 0 0 0 14,354
Interest expense (95,366) (92,032) (277,790) (282,709)
Net income 153,676 149,658 537,428 437,041
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (14,850) (14,340) (46,484) (33,967)
Net income attributable to the Company 138,826 135,318 490,944 403,074
Preferred dividends / distributions (2,625) (2,625) (7,875) (7,875)
Net income attributable to the Company's common shareholders / unitholders $ 136,201 $ 132,693 $ 483,069 $ 395,199
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.79 $ 0.77 $ 2.81 $ 2.30
Weighted average number of common shares / units outstanding 171,928 171,691 171,904 171,649
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.79 $ 0.77 $ 2.81 $ 2.30
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 172,166 171,819 172,142 171,861